What is the budget required for studying in Canada, and how can it be financed (loan or personal funds) for a Master's?
06 Aug 2026 · Answered by Pallavi Attri · 1 min read
The typical annual budget for a master's in Canada is CAD 30,000 - 60,000. This includes:
- Tuition: CAD 10,000 - 40,000/year (varies by program and university)
- Living expenses: CAD 8,000 - 18,000/year for accommodation, plus CAD 4,800 - 8,400/year for food and daily needs
- Health insurance: CAD 600 - 900/year
- Study permit fee: CAD 150 (one-time)
You can finance your studies through personal savings, education loans from Indian banks or NBFCs, or by applying for scholarships from Canadian universities and organizations. Part-time work is also allowed for international students, subject to visa rules (subject to change).
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